Stimulus tied to 2.2 million jobs - White House

Source: CNN

NEW YORK (CNNMoney.com) -- The government's Recovery Act is responsible for between 2.2 and 2.8 million jobs through the first quarter of 2010, according to the latest stimulus report from President Obama's chief economic adviser.

The report, from the White House's Council of Economic Advisers, says the $787 billion economic stimulus is on track to create or save 3.5 million jobs by the end of the year.

"From tax cuts to construction projects, the Recovery Act is firing on all cylinders when it comes to creating jobs and putting Americans back to work," Vice President Joe Biden said in a statement.

The American Recovery and Reinvestment Act, which was signed into law in February 2009, is the largest simulus program in the nation's history. While the Obama administration credits the stimulus with lifting the United States from the recession, Republican critics also look to the nation's 9.7% unemployment rate as proof that the act fails to create long-term jobs.

So far $525 billion of the simulus money has been committed to specific projects and $370 billion has been paid out.

Read more: http://money.cnn.com/2010/04/14/news/economy/recovery_act_jobs/index.htm?hpt=T2

I'm seeing many American Recovery and Reinvestment Act signs up in Los Angeles County, where the streets, bridges, freeways, etc., have been horribly neglected for at least 20 years. I'm seeing a lot more graffiti abatement as well.

from what I've seen and read, and doesn't even match the message the Fed.

http://www.mortgagenewsdaily.com/04072010_ben_bernanke.asp

http://www.ft.com/cms/s/0/058cc00c-430f-11df-96c4-00144feab49a.html

http://www.reuters.com/article/idUSTRE6142V820100408

it is a drop in the bucket and the administration just does not seem to get it. 2012 Obama will have to get it or be gone. too many people hurting, very simple. The stock market no longer correlates with the economy and the government is not picking up pieces. The wars have got to go.Using up all kinds of energy has to got to go. Big changes and big plans have to be taken and it is not happening. Afghanistan was Obama's chance and he blew it. Drank the kool aid. Cannot keep a democracy going with what is going on in USA.

Apparently not everyone is blind and thinks we are in a "Recovery".

But it's not bad news. I would think people here would be happy to see the stimulus is working.

that most of us see day to day.

Even if the numbers are accurate (unlikely, imo), we spent $287K per job created or saved, which is far from a good result.

with repealing health care.